Half of July Home Sales Below Asking Price, Reports Hemnet

July is generally a month with low activity on the housing market. That's how it has looked this year as well.

According to new figures from the housing site Hemnet, just over 10,200 homes were sold during the holiday month.

Half of the homes that were sold were also sold for a price that was lower than what the seller had requested. It is the highest proportion of homes sold below the asking price since Hemnet began its measurements.

According to the housing site, this is due to a combination of a high supply because many did not manage to sell during the spring and that the asking prices are generally set at higher levels.

"For consumers, it is therefore an important aspect to keep in mind: The asking prices are often relatively arbitrarily set and should rather be seen as a guideline than the actual value of the home," says Erik Holmberg, market analyst at Hemnet, in a comment.